Conseco Sorts Thru the Carnage
Indianapolis-based Conseco Inc. (CNO - Analyst Report) is the top-tier holding company for a group of insurance companies operating throughout the United States that develop, market, and administer supplemental health insurance, annuity, individual life insurance, and other insurance products.
Conseco Inc. shares have lost a significant portion of their value since the company announced its holdings in Lehman Brothers, AIG (AIG - Snapshot Report) and Washington Mutual. Conseco also announced its plans to transfer Conseco Senior Health Insurance Co. to an independent trust.
After reviewing 2Q08 results and based on our concerns for liquidity and additional losses, we are moderating our FY08 and FY09 operating earnings estimates. At current valuation, our recommendation on the shares remains unchanged at Hold with a six-month target price of $2.40 per share.
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| Market Summary | Nov 26, 2009 06:54 am ET |

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